What is your lifetime earning limit? Consider the following five factors, all of which play a central role in a person’s income over the course of a career.
Work Ethic
A person’s attitude toward work is a subtle but relatively powerful determinant of income potential. Those who understand the necessity of working for a living and who value the opportunity to contribute to society as gainfully employed citizens tend to earn more than those who don’t. Hiring agents at companies of all sizes and in every industry can size up an applicant’s work ethic in a matter of minutes. Often, that one characteristic serves as a make-or-break factor during the hiring process.
Education
Getting a college degree has long been a determinant of lifelong income potential. Before earning a diploma, it’s imperative to arrange for financing. So, the idea of education is a twofold challenge that encompasses both academics and financial planning. For large numbers of prospective college students, both part-time and full-time, scholarships play a pivotal role in their ability to cover necessary expenses. It makes sense to arrange for financing before setting out to earn a degree, so be sure to search for all scholarship opportunities that are within your academic field.
Fortunately, it’s possible to not only search for but also apply for scholarships from a single online platform. That saves future degree holders the trouble of visiting dozens of different websites and filling out countless forms and paperwork. When you use a search and apply platform, it’s much easier to identify the opportunities that match your background and apply for them all from the same page. The beauty of scholarship money is that students can use it to offset any educational expenses, decrease their reliance on borrowing, and never have to repay the award amount.
Field of Study
Of course, it’s up to you to choose a major field of study. Be careful about selecting one based on potential income levels, or you could end up burning out due to boredom or overwork. The wise way to find out where your innate talents lie is to take an in-depth aptitude test. The results can help guide you in deciding about whether to enter business, medicine, law, engineering, teaching, or another of the general career pathways. While there are wide variations in income levels between and within fields of study, some areas, like medicine, are known for high earning potential. Research the several categories that interest you and find out about not only top-earning levels but worker satisfaction, job growth, and benefits.
People Skills
The ability to work with others in a job environment is a soft skill that does not come easily to many people. Fortunately, there are some reliable methods for acquiring people skills, and there’s no need to return to school, spend a fortune, or suffer through corporate boot camps to do so. If you are lacking in this department, consider doing a formal study of the subject. There are dozens of worthwhile online resources, free tutorials, webinars, discussion groups, and other training opportunities.
During and after a period of self-guided study, strive to put the newly acquired knowledge into practice on the job, in social situations, and whenever you get a chance to interact with others. Focus on the two core tenets of the discipline: being an attentive listener and knowing how to communicate your own thoughts clearly. Don’t expect overnight results. However, those who try to communicate with others will eventually see improvement in multiple areas of their lives, not just at the workplace.
Computer Literacy
There’s a vast range of requirements in this category depending on the industry and position you hold. However, it’s essential to make a concerted effort to stay current on standard operating systems, the latest programs, the newest apps, and routine job-related demands. Even for workers who are not in a tech-oriented industry, it’s helpful to take continuing education courses to maintain a baseline of computer literacy.
In terms of lifetime earning potential, tech skills will never go out of style, but old information and ways of doing things can quickly become obsolete. Consider how quickly the digital workplace has changed in just the past ten years. Before the 2030s arrive, there’s a high probability that most industries will be fully computerized and that all employees will need to acquire a relatively advanced level of cyber skills.